Farm business updates break from tradition

The GRDC is hosting a series of Farm Business Update sessions to help growers identify opportunities to grow the bottomline of farm enterprises.

In a forced break from tradition, this year's updates have moved from regional locations to the homes and offices of growers and advisers via a convenient, free-of-charge online format.

These sessions will be spread across the week of August 3-7, with one topic per day being discussed by leading experts.

Each one-hour presentation will begin at 1pm ACST.

"The Farm Business Updates are designed to drive innovation and adoption of improved farm business management practices across the grains industry, and that intent remains firmly in place as we deliver the Updates via interactive online forums," GRDC southern grower relations manager Courtney Ramsey said.

"This format is a departure from the norm, but we hope growers and advisers embrace the modified programs and take the opportunity to tune in at lunch time."

The SA Farm Business Update week begins on Monday, August 3, with Matt O'Dea, Agribusiness Finance Australia, discussing 'preparing for your banking relationship of 2020 and beyond'.

Mr O'Dea will explain the key factors for growers managing a successful relationship with their bank, and will talk through how growers can optimise their business position for investment opportunities or extension of borrowing.

The session on Tuesday, August 4, will focus on 'machinery investment - the million-dollar question'.

With machinery and equipment a key production asset in a cropping enterprise, Will Martel, a grower from Gollan in NSW, will demonstrate how growers can achieve the optimal outcomes for their situation and how the investment allocation impacts long-term profitability.

Nicon Rural consultant Cam Nicholson is the lead presenter on Wednesday, August 5, when he will delve into the topic of 'enterprise mix and the profit outcomes'.

Mr Nicholson says achieving the right balance between risk and return for an individual farming system will optimise the profit opportunities.

On Thursday, August 6, consultants Alex Thomas and Nathan Burke (Australian Football League great) will team up for a session on 'getting and keeping staff; it's not just about the dollars'.

They will discuss some of the main reasons that employees leave and how employers can ensure that they don't lose valuable staff for avoidable reasons.

The final session on Friday, August 7, will involve a panel of presenters exploring the topic of 'priority skills development - the things I would have liked to have known earlier'.

The panel will examine how growers can save time and money and create a more productive farming experience through developing skills and competencies which can help them avoid some of the common farm business pitfalls.